My parents have gotten themselves into a pickle. Dad retired early and is now 62 years old. He was just tired of the job, and now works part time with a friend. His 401K plan was changed by his past employer. This change in servicer of the plan required that he re-enroll in new funds and reset his yearly withdrawal rate.

He called and asked that they set it up like his previous account that was held by Fidelity. Apparently, he went through a couple of people that said they didn't know how to do that, then finally got someone who did. He didn't ask enough questions...

They are now withdrawing twice as much as they want, and it's a big problem. When they called to change it, they found out that they couldn't change it for quite a while (too long). Apparently, the new serviceer cannot or will not fix the problem. I suggested just rolling it over into an IRA. They think they can't. Am I missing something? y wife's rolled over two 401k retirement accounts when leaving an employer, and I've done it with a 403(b). Is there something age dependent in the legislation that I'm missing, or some reason that they could be prevented from rolling it over due to new enrollment provisions? I see no problem other than the obvious inconvenience. Am I missing something?

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